Reboot Risks and Rewards for PC Makers

By

Dan Gallagher

Sept. 1, 2014 1:11 p.m. ET

Personal computers aren't dead yet, but how long will they enjoy their new lease on life?

Better-than-expected sales of PCs boosted recent quarterly results for chip maker Intel, software giant Microsoft and computer manufacturers such as Hewlett-Packard and Lenovo Group. Investors have noticed: The stocks of both H-P and Intel are up more than 30% this year, with Lenovo shares up 23%. The Nasdaq Composite Index is up 9.7%.